Lifeworks Advisors LLC Has $588,000 Stock Holdings in Visa Inc. (NYSE:V)

Lifeworks Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 81.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,138 shares of the credit-card processor’s stock after acquiring an additional 961 shares during the quarter. Lifeworks Advisors LLC’s holdings in Visa were worth $588,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Unionview LLC increased its stake in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after acquiring an additional 33 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC increased its stake in Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the last quarter. Washington Trust Bank increased its stake in Visa by 1.1% in the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after acquiring an additional 37 shares during the last quarter. Finally, Proffitt & Goodson Inc. increased its stake in Visa by 20.3% in the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after acquiring an additional 37 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $308.27 on Friday. The firm’s 50-day moving average price is $285.84 and its 200-day moving average price is $275.41. Visa Inc. has a 1-year low of $245.34 and a 1-year high of $312.44. The firm has a market capitalization of $561.76 billion, a P/E ratio of 31.68, a P/E/G ratio of 2.07 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Susquehanna lifted their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.